Comments in the Q&A
- Don't assume it will be one instrument, we will look at them all
- We acted for the first wave, we will act for the second wave
- Emphasizes unanimity in the Governing Council to take action at the next meeting
- GDP tomorrow 'might surprise on the upside'
- GDP in Q4 will be soft. Will it be negative? We don't know yet
- November will be very negative
- Not foreseeing deflationary risks 'at all'
- We will be very attentive to the impact of pandemic on risks
- Banks are anticipating tighter lending conditions
- Will frontload PEPP purchases if needed
- There's little doubt the ECB will act in Dec
GDP on Friday is forecast up 15.0% but you can assume it's significantly higher. We haven't had this kind of promise to act since 'strong vigilance'.
